=+LG 5 P2–4 Initial public offering A Brazilian company called Netshoes completed its IPO on April 12, 2017, and listed on the NYSE. Netshoes sold 8,250,000 shares of stock to primary market investors at an IPO offer price of $18, with an underwriting discount of 6.5%. Secondary market investors, however, were paying only $16.10 per share for Netshoes’ 31,025,936 shares of stock outstanding.